Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q4 2024 ▲▼ | Q1 2025 ▲▼ | Change ▲▼ | Q4 2024 ▲▼ | Q1 2025 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| SPDR S&P 500 ETF TR(SPY)(Call) | 0 | 2,000,000 | +2,000,000 | 0 | 1,118,780 | — | +1,118,780 |
| TELEPHONE & DATA SYS INC(GEO) | 0 | 2,867,186 | +2,867,186 | 0 | 111,075 | 17.93% | +111,075 |
| TALEN ENERGY CORP | 0 | 400,000 | +400,000 | 0 | 79,868 | 12.89% | +79,868 |
| GEO GROUP INC NEW(GBTG) | 0 | 1,682,104 | +1,682,104 | 0 | 49,134 | 7.93% | +49,134 |
| EXPAND ENERGY CORPORATION(SBGI) | 0 | 456,802 | +456,802 | 0 | 45,712 | 7.38% | +45,712 |
| ISHARES TR(Call) | 0 | 300,000 | +300,000 | 0 | 28,563 | — | +28,563 |
| BROOKDALE SR LIVING INC(CPT) | 0 | 3,949,011 | +3,949,011 | 0 | 24,721 | 3.99% | +24,721 |
| TRANSOCEAN INC(VAL) | 0 | 23,625,000 | +23,625,000 | 0 | 23,861 | 3.85% | +23,861 |
| CENTURI HOLDINGS INC(CZR) | 0 | 1,285,724 | +1,285,724 | 0 | 21,073 | 3.40% | +21,073 |
| CANNAE HLDGS INC | 1,784,713 | 3,015,647 | +1,230,934 | 35,444 | 55,277 | 8.92% | +19,833 |
| GLOBAL BUSINESS TRAVEL GROUP(SPHR) | 0 | 2,461,182 | +2,461,182 | 0 | 17,868 | 2.88% | +17,868 |
| SPHERE ENTERTAINMENT CO(MAA) | 0 | 12,300,000 | +12,300,000 | 0 | 14,817 | 2.39% | +14,817 |
| CAMDEN PPTY TR(CTRI) | 0 | 90,558 | +90,558 | 0 | 11,075 | 1.79% | +11,075 |
| UDR INC | 0 | 243,655 | +243,655 | 0 | 11,006 | 1.78% | +11,006 |
| ECHOSTAR CORP(UDR) | 0 | 427,500 | +427,500 | 0 | 10,935 | 1.77% | +10,935 |
| ALTICE USA INC | 2,017,188 | 5,638,859 | +3,621,671 | 4,861 | 14,999 | 2.42% | +10,138 |
| SINCLAIR INC(VSAT) | 0 | 454,398 | +454,398 | 0 | 7,239 | 1.17% | +7,239 |
| VIASAT INC(VSAT)(Call) | 0 | 650,000 | +650,000 | 0 | 6,773 | — | +6,773 |
| ESSEX PPTY TR INC(EXE) | 0 | 20,724 | +20,724 | 0 | 6,353 | 1.03% | +6,353 |
| CAESARS ENTERTAINMENT INC NE(DHC) | 0 | 235,000 | +235,000 | 0 | 5,875 | 0.95% | +5,875 |
| DIVERSIFIED HEALTHCARE TR(ESS) | 0 | 2,124,704 | +2,124,704 | 0 | 5,099 | 0.82% | +5,099 |
| LUMEN TECHNOLOGIES INC(TDS) | 0 | 1,000,000 | +1,000,000 | 0 | 3,920 | 0.63% | +3,920 |
| VALARIS LTD(BKD) | 0 | 687,260 | +687,260 | 0 | 3,498 | 0.56% | +3,498 |
| KOHLS CORP(KSS)(Put) | 686,100 | 1,600,000 | +913,900 | 9,633 | 13,088 | — | +3,455 |
| ECHOSTAR CORP(ECHO) | 21,854,204 | 22,254,204 | +400,000 | 23,052 | 24,871 | 4.02% | +1,819 |
| EQUITY RESIDENTIAL(EQR) | 118,981 | 144,001 | +25,020 | 8,538 | 10,308 | 1.66% | +1,770 |
| AVALONBAY CMNTYS INC | 40,127 | 48,185 | +8,058 | 8,827 | 10,341 | 1.67% | +1,514 |
| BROOKDALE SR LIVING INC(BKD) | 2,000,000 | 2,000,000 | 0 | 1,847 | 2,018 | 0.33% | +171 |
| VALARIS LTD(VAL) | 10,696 | 0 | -10,696 | 473 | 0 | — | -473 |
| KOHLS CORP(KSS) | 137,900 | 0 | -137,900 | 1,936 | 0 | — | -1,936 |
| VORNADO RLTY TR(VNO)(Put) | 75,000 | 0 | -75,000 | 3,153 | 0 | — | -3,153 |
| VALARIS LTD(VAL)(Call) | 80,000 | 0 | -80,000 | 3,539 | 0 | — | -3,539 |
| ESSEX PPTY TR INC(ESS) | 14,831 | 0 | -14,831 | 4,233 | 0 | — | -4,233 |
| MID-AMER APT CMNTYS INC(MAA) | 29,664 | 0 | -29,664 | 4,585 | 0 | — | -4,585 |
| SPHERE ENTERTAINMENT CO(SPHR) | 115,560 | 0 | -115,560 | 4,659 | 0 | — | -4,659 |
| VALARIS LTD(VAL) | 686,633 | 0 | -686,633 | 4,738 | 0 | — | -4,738 |
| COMMSCOPE HLDG CO INC(VISN) | 2,063,860 | 1,090,051 | -973,809 | 10,753 | 5,788 | 0.93% | -4,965 |
| NEBIUS GROUP N.V.(NBIS) | 220,000 | 0 | -220,000 | 6,094 | 0 | — | -6,094 |
| SINCLAIR INC(SBGI) | 454,398 | 0 | -454,398 | 7,334 | 0 | — | -7,334 |
| MEDICAL PPTYS TRUST INC(MPT)(Call) | 2,000,000 | 0 | -2,000,000 | 7,900 | 0 | — | -7,900 |
| CAMDEN PPTY TR(CPT) | 75,065 | 0 | -75,065 | 8,711 | 0 | — | -8,711 |
| UDR INC(UDR) | 201,047 | 0 | -201,047 | 8,727 | 0 | — | -8,727 |
| FRONTIER COMMUNICATIONS PARE(GEO) | 1,653,934 | 1,000,000 | -653,934 | 46,277 | 35,860 | 5.79% | -10,417 |
| SPHERE ENTERTAINMENT CO(SPHR) | 10,500,000 | 0 | -10,500,000 | 14,258 | 0 | — | -14,258 |
| BROOKDALE SR LIVING INC(BKD) | 3,333,196 | 0 | -3,333,196 | 16,766 | 0 | — | -16,766 |
| TRANSOCEAN INC | 23,225,000 | 0 | -23,225,000 | 24,193 | 0 | — | -24,193 |
| INVESCO EXCH TRADED FD TR II SR LN ETF | 1,150,000 | 0 | -1,150,000 | 24,231 | 0 | — | -24,231 |
| CENTURI HOLDINGS INC(CTRI) | 1,264,224 | 0 | -1,264,224 | 24,412 | 0 | — | -24,412 |
| GLOBAL BUSINESS TRAVEL GROUP(GBTG) | 2,969,258 | 0 | -2,969,258 | 27,555 | 0 | — | -27,555 |
| PROSHARES TR(Call) ULTRAPRO QQQ | 425,000 | 0 | -425,000 | 33,630 | 0 | — | -33,630 |
| EXPAND ENERGY CORPORATION(EXE) | 456,802 | 0 | -456,802 | 38,993 | 0 | — | -38,993 |
| ALTICE USA INC(Call) | 1,496,000 | 0 | -1,496,000 | 45,598 | 0 | — | -45,598 |
| FRONTIER COMMUNICATIONS PARE | 1,484,894 | 0 | -1,484,894 | 51,526 | 0 | — | -51,526 |
| TELEPHONE & DATA SYS INC(TDS) | 1,900,707 | 0 | -1,900,707 | 64,833 | 0 | — | -64,833 |
| MID-AMER APT CMNTYS INC(TLN) | 462,056 | 40,776 | -421,280 | 93,090 | 6,833 | 1.10% | -86,257 |
| ISHARES TR(Put) MSCI USA MMENTM | 500,000 | 0 | -500,000 | 103,460 | 0 | — | -103,460 |
| INVESCO EXCHANGE TRADED FD T(Put) S&P500 EQL WGT | 616,000 | 0 | -616,000 | 107,942 | 0 | — | -107,942 |
| ISHARES TR(Put) | 500,000 | 0 | -500,000 | 110,480 | 0 | — | -110,480 |
| SPDR S&P 500 ETF TR(SPY)(Put) | 1,500,000 | 0 | -1,500,000 | 879,120 | 0 | — | -879,120 |